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what romney is proposing is lowering tax rates, getting people back to work to generate tax revenues. he never said that taxes on the rich would make up for the deficit. president obama kept saying that. obviously he did not get how that works. tracy: listen to the sound bite from last night, mitt romney talking about the off shoring of businesses and tax businesses. >> to get a deduction for taking a plant overseas? i have been in business 25 years. i have no idea what you are talking about. i maybe need to get a new accountant, but the idea you get a break for sending jobs overseas is simply not the case. tracy: christian, was governor romney right on that point? >> no, he was actually wrong. earnings that do not subject to income tax money that is held offshore in effect incentivizing companies to have offshore jobs and keep the money outside the united states. i don't know where the governor was confused, but actually that is something that is a part of the tax code, he is wrong about that. tracy: there is no off shoring tax. you shut down a plant, fair enough, but no break for mo
what romney is proposing is lowering tax rates, getting people back to work to generate tax revenues. he never said that taxes on the rich would make up for the deficit. president obama kept saying that. obviously he did not get how that works. tracy: listen to the sound bite from last night, mitt romney talking about the off shoring of businesses and tax businesses. >> to get a deduction for taking a plant overseas? i have been in business 25 years. i have no idea what you are talking...
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the tax policy center says all that means is tax cuts of $480 billion in the year 2015. the obama campaign will divide that by ten and there is a $5 trillion tax cut figure over the next decade the president repeatedly cited during the debate. that is misleading. romney says he raises the full cost. he raises money elsewhere. personal exemptions and healthcare provision -- congress could presume economic growth from lower tax rates need more tax revenues to the treasury. economic growth means romney's plan works. >> it grows the economy so much. about 7.4% in the long run. over ten years. this revenue problem becomes much smaller. >> others like the tax policy center and the congressional budget office do not use overall economic growth as official ways to pay for lower tax rates. mcbride says it is somewhat ridiculous not to do so. there will be some growth from doing it. back to you. melissa: rich, that is so interesting that you got him to quantify the kind of growth we could see with that 7.4%. that is a part of the conversations that get really tough. >> a romney a
the tax policy center says all that means is tax cuts of $480 billion in the year 2015. the obama campaign will divide that by ten and there is a $5 trillion tax cut figure over the next decade the president repeatedly cited during the debate. that is misleading. romney says he raises the full cost. he raises money elsewhere. personal exemptions and healthcare provision -- congress could presume economic growth from lower tax rates need more tax revenues to the treasury. economic growth means...
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talking about eliminating things too, like the estate tax and alternative minimum tax. that's a huge revenue raiser, that amt how will he get away with that? >> well, certainly a lot comes down to two factors in order to pay for it, one is, you have to look at it from the economic growth side. when we look at the economic benefits of cutting taxes across the board you really end up losing only about half of what you would if you look at it simply on a static basis. that means we have to do a lot less base broadening and a lot less loophole cutting than we normally would. that helps reduce the overall cost to the plan substantially. and makes it a lot less difficult to do these sort of measures to cut the costs. tracy: so the assumption is that the growth created will pay for the losses, will cover a piece of the loss of revenue, right. >> yes, that's correct. not all but some. tracy: okay. and then we also hear though he will cap some big tax breaks. do we know what breaks he is talking about? >> no. he has been obviously, very elusive about that. why not? why get into
talking about eliminating things too, like the estate tax and alternative minimum tax. that's a huge revenue raiser, that amt how will he get away with that? >> well, certainly a lot comes down to two factors in order to pay for it, one is, you have to look at it from the economic growth side. when we look at the economic benefits of cutting taxes across the board you really end up losing only about half of what you would if you look at it simply on a static basis. that means we have to...
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greek people handing over children to the tax check are to. no tax breaks. take my kids. symbol of how frustrated they are. ashley: all the mothers came into the office. was given the child, if you will do away with tax breaks for large families you raise this child. lori: unbelievable turn in this story. ashley: that is typical greece. >> i didn't know they had quite a sense of humor. i think it is funny. ashley: thank you very much, ladies. tracy: here to the greeks. ashley: lori said we wouldn't hand over her dogs. tracy: but the kids, take them. ashley: i'm ashley webster. stocks well off session highs. oil tumbling to below 96 bucks a barrel on new concerns about china. we're tracking all of the market moves this hour. tracy: a new startup wants to become the aaa of health care. care planners cofounder tells us how it works. he's ahead. ashley: regulation nation. the ceo of carl's jr and hardee's parent, cke, says taxes and health care are hurting his ability to do business. he is here and will be our special guest ahead. tracy: he has been pretty outspoken spoken ab
greek people handing over children to the tax check are to. no tax breaks. take my kids. symbol of how frustrated they are. ashley: all the mothers came into the office. was given the child, if you will do away with tax breaks for large families you raise this child. lori: unbelievable turn in this story. ashley: that is typical greece. >> i didn't know they had quite a sense of humor. i think it is funny. ashley: thank you very much, ladies. tracy: here to the greeks. ashley: lori said...
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lori: taxes. >> difference in taxes which is close to 18 to 19 cents. plus my profit margin at least have to be 10 to 15 cents. so i have to put out a sign outside, 5.50, or 5.55 to make money. lori: will anybody pay that in the l.a. area because people are so committed and depend on their cars? >> yes. i've been getting calls. friend coming to the station, what's going to happen? what what's going to happen? i don't have an answer for them because i don't have a answer to myself self. how will i convince the people that price will go down and when see the prices going up and up and up like no tomorrow. lori: will you start shutting your gas pumps? >> still i got about 7 to 800 gallons left at the tank. i'm hoping the price will go down but i talked to lady at refinery the she said no, prices will keep going up. if you want to wait monday, maybe. i said are you sure? i don't know. i have an answer for you too. tonight or tomorrow morning i going to shut it down. so this is first time in my lifetime. i've been in this location over 30 years. i mean shutt
lori: taxes. >> difference in taxes which is close to 18 to 19 cents. plus my profit margin at least have to be 10 to 15 cents. so i have to put out a sign outside, 5.50, or 5.55 to make money. lori: will anybody pay that in the l.a. area because people are so committed and depend on their cars? >> yes. i've been getting calls. friend coming to the station, what's going to happen? what what's going to happen? i don't have an answer for them because i don't have a answer to myself...
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if taxes are increased and the government cuts down spending that is deflationary. if they don't do it and people don't have money the government will continue to spend and that means the debt which is projected by the budget office in the united states by 2020 will rise to $25 trillion. but the borrowing cost on the government that because the rest of the world is going to hell and people are terrified borrowing costs are cheaper than it has ever been. what is going to happen in my prediction is the u.s. will be downgraded on the debt because nothing is being done. the debt is 105 and went for the downgrade and interest rates were lower than in the meltdown of 2008. the problem with the bears is a they are going to be right sunday but have been wrong since the dow was at 6800 in march of 2009. >> who cares about the debt? the fiscal cliff is a non event. if the republicans get in they will keep taxes low in exchange for raising the debt ceiling. of democrats get in they will do the opposite so we will have low taxes and raise the debt ceiling it and who cares? we w
if taxes are increased and the government cuts down spending that is deflationary. if they don't do it and people don't have money the government will continue to spend and that means the debt which is projected by the budget office in the united states by 2020 will rise to $25 trillion. but the borrowing cost on the government that because the rest of the world is going to hell and people are terrified borrowing costs are cheaper than it has ever been. what is going to happen in my prediction...
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and of course he's in favor of higher taxes. device resident alerted out the truth, said they want to raise taxes a trillion dollars. i don't want to raise taxes on any american because i want to create good jobs in america. now i would take america a very different direction. first of all make sure our policies encourage job growth and i have five things i will do. you have heard me describe them time and again. five things i will do that will get jobs growing in this economy again right here in this part of virginia as well. number one is to take full advantage of all the energy resources, our oil, coal, gas, nuclear renewables. and i know you care a lot more than the imac about cold and the others. we president was running for office is that if you build a new coal-fired plant, you will go bankrupt. the head of the epa has also said the regulations on burning coal are now so stringent it is basically impossible to build a new coal fire plant. i don't believe putting our coal under the ground for ever. we should put american w
and of course he's in favor of higher taxes. device resident alerted out the truth, said they want to raise taxes a trillion dollars. i don't want to raise taxes on any american because i want to create good jobs in america. now i would take america a very different direction. first of all make sure our policies encourage job growth and i have five things i will do. you have heard me describe them time and again. five things i will do that will get jobs growing in this economy again right here...
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here is david segal talking about taxes on effect of hiring at hits company. here is david siegel. >> with the new obamacare coming in and now the threat of higher taxes, it just means less money to expand our business. i wanted my employees to be informed as to what the results could be of them both, voting for the wrong candidate. >> more part-time jobs coming into the economy. here is dart den restaurants. considering more part-time jobs to address health reform costs. telling fox business the law is so rigid there is no flexibility in it at all. hear is the deal, hear is the bottom line. basically the high cost of affordable care. if you work 30 hours a week you are supposed to be getting health insurance. if you go below 30 hours you don't get health insurance. if the company doesn't provide you 30 hours a week, the company pay as fine of 3 tow per worker. the incentive to drop below the 30 hour per week water mark. the problem these companies, restaurants like darden which owns olive garden and longhorn steakhouse, they were providing cheap health care c
here is david segal talking about taxes on effect of hiring at hits company. here is david siegel. >> with the new obamacare coming in and now the threat of higher taxes, it just means less money to expand our business. i wanted my employees to be informed as to what the results could be of them both, voting for the wrong candidate. >> more part-time jobs coming into the economy. here is dart den restaurants. considering more part-time jobs to address health reform costs. telling...
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a lot of tax got downgraded today. i also wanted to take a look at a long-term chart of the dow versus the s&p 500 over five years. five years ago, the dow and s&p 500 actually hit the record. the dow closed up 14,164. a lot of the bulls out there would like to see that right now. the s&p closed at 1545. the dow is down 4% from that peak in the s&p down about 7%. as far as the major market averages, business sentiment from small businesses. it fell for the fourth time in five months since september. some of the analysts calls that we have seen on the tech stock, including ibm, hewlett-packard, dell, most of them were downgraded. some of the tech names coming under pressure today. back to you. tracy: thank you. a new reading on american small business sentiment. raising new fears about recession. elizabeth macdonald here with. >> bottom line. >> they should sit up and take notice. it is a confidence index. basically since 1980, firms less than five years old, created all net new jobs in this country. here is dan danner.
a lot of tax got downgraded today. i also wanted to take a look at a long-term chart of the dow versus the s&p 500 over five years. five years ago, the dow and s&p 500 actually hit the record. the dow closed up 14,164. a lot of the bulls out there would like to see that right now. the s&p closed at 1545. the dow is down 4% from that peak in the s&p down about 7%. as far as the major market averages, business sentiment from small businesses. it fell for the fourth time in five...
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for a tax cut. connell: peter barnes has all his marbles in d.c. today. thanks. dagen: not really. we love you. they're not quite all there. connell: that's not right. you should be the one to talk. dagen: that's why i said that. peter, we do love you. it says connell read. connell: i love that name, two ns and two ls. the protesters are out in greece today over all the cutbacks in the government. they don't like merkel and everything else. we will bring you the latest from greece. dagen: back here at home, the keystone pipeline is back in the national spotlight thanks to the romney campaign. cheaper fuel, more jobs, are all in place here. take a look at today's winners on the s&p 500: dagen: cheaper energy and more jobs, the romney ryan camp putting the keystone pipeline back in the national spotlight. we track all of our money that is going to the solar panel industry in china. and that ominous dark cloud hanging overhead, not connell, was expected to be a lousy season for quarterly earnings. some
for a tax cut. connell: peter barnes has all his marbles in d.c. today. thanks. dagen: not really. we love you. they're not quite all there. connell: that's not right. you should be the one to talk. dagen: that's why i said that. peter, we do love you. it says connell read. connell: i love that name, two ns and two ls. the protesters are out in greece today over all the cutbacks in the government. they don't like merkel and everything else. we will bring you the latest from greece. dagen: back...
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will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the election. if romney wins, stock winners will be care providers, interesting a healthcare provider there. >> and the defense contractors also. cheryl: we also showed that basically that defense will be a big loser if the president stays in office. >> there will be different winners and losers depending on who wins. and all environments, you do very well owning consumer brands that that people love. they take advantage of the growth of the middle class. what we suggest is who matters does when. if you are not sure, you should be in index funds. what you want to do after the next several years is
will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the...
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it was a symbolic protest against the dropping of tax breaks for large families. the parents held banners reading stop killing our families in one hand and strollers in the other as they marched straight into a tax director's office. greece pledging austerity measures worth about 12 billion euros for next year and 2014 to try and secure more financial aid from international lenders. that's what life is like in greece right now. back to you. dagen: thank you ashley. connell: let's go to apple and google and no maps -- google maps op the latest iphone -- on the latest iphone, ipad, it's been a mess. walt mossberg it says it could give other phones what they have been looking for. dagen: joining us is walt mossberg. you reviewed the google maps for android phones. broadly speaking, how good are they? >> they are very good. they are not perfect, dagen. although google's working on this for seven years. he have a lot more data. -- they have a lot more data and more accuracy than the new fledgling apple maps. i did find in my test at least a couple of inaccuracies inclu
it was a symbolic protest against the dropping of tax breaks for large families. the parents held banners reading stop killing our families in one hand and strollers in the other as they marched straight into a tax director's office. greece pledging austerity measures worth about 12 billion euros for next year and 2014 to try and secure more financial aid from international lenders. that's what life is like in greece right now. back to you. dagen: thank you ashley. connell: let's go to apple...
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now the infamous rashes about the 47% who don't pay income taxes in the u.s. and that surreptitiously obtained video from several weeks back at a florida fund-raiser. the 47% is sure to come up. when he arrived last night at denver mr. romney did an interview with local affiliate, local fox station as a matter of fact and they asked him about it. here is how mr. romney intends to sort of deal with that issue of the 47%. >> they want to know is, will he get jobs for the american people and get rising incomes and i'm a president for 100% of the american people. that is the real percent people care about. not 99 versus one. not 47 versus anyone else. i will be a president for 100% of the people and i demonstrated that throughout my life. >> it will be the biggest audience mitt romney ever had. 50 or 60 million. he would quibble when he was president of the olympics in 2002 over a billion watched worldwide. first of three presidential debates. romney said it is not just one but many could posit of last five weeks remaining before now and the election. melissa: cam
now the infamous rashes about the 47% who don't pay income taxes in the u.s. and that surreptitiously obtained video from several weeks back at a florida fund-raiser. the 47% is sure to come up. when he arrived last night at denver mr. romney did an interview with local affiliate, local fox station as a matter of fact and they asked him about it. here is how mr. romney intends to sort of deal with that issue of the 47%. >> they want to know is, will he get jobs for the american people and...